Business

Till the third week of March this fiscal year, Myanmar has earned over US$ 1.11 billion from the exports of 3.5 million tonnes of rice and broken rice to 57 countries. Nearly half of rice and broken are exported via sea route, according to Myanmar Rice Federation (MRF).

From April 1 to March 23 of 2017-2018 FY, it earned US$ 953.704 million from exports of 1889317.422 tonnes of rice to 57 countries and US$ 160.097 million from exports of 620696.245 tonnes to 33 countries.

Strategic Cooperation Framework Agreement has been signed between the Investment and Trade Promotion Committee of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and CCPIT Yunnan Sub-Council.

The agreement signing ceremony took place at the UMFCCI office in Yangon on April 6.

Myanmar-China Business Council will be established this month so that Myanmar businesspeople can participate in China-Myanmar Economic Corridor of One Belt One Road (OBOR), according to the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI).

"Regarding OBOR, the Chinese ambassador invited businesspersons to form Myanmar-China Business Council. We are planning to form it this month," said UMFCCI president Zaw Min Win. "Local entrepreneurs are trying to participate in projects of the economic corridor that may be JV.

MYEIK- Malaysian state-owned oil company PETRONAS will be beginning drilling development wells in M-12, M-13 and M-14 in the north-west sea from Myeik Township, Taninthayi Region, in October, November and December.

The company yesterday held a meeting with the public in Myeik Township before carrying out the Environmental Impact Assessment (EIA) concerning the exploration activities.

Although some departmental heads and NGOs attended the meeting, no officials from Fishery Organizations, locals and CSOs attended it.

This year's increased export has made entrepreneurs and brokers financially successful, but it is important to improve the socio-economy of real growers, said Union Minister for Commerce Dr Than Myint.

"In engaging export activities, rice is successful. Actually, we are successful in terms of figure. We need to know how much success we have achieved in practical field. Rubber is successful. Fishery is also successful. And garment industry is successful as well. Traders are successful. But we need to access how successful real workers and growers are," said the minister.

Feasibility studies on the construction of a new port at the mouth of Sea will be conducted by foreign experts, said Yangon Region Chief Minister Phyo Min Thein at the 16th meeting between the Vice-President-1 and local entrepreneurs, at the Union of Myanmar Federation of Chambers of Commerce and Industry (Headquarters) on April 2.

Though Myanmar’s real estate sector last year faced many challenges, the government is planning to meet the housing needs of low-income people by working with development partners and private companies, according to speakers at the recent Myanmar Infrastructure Summit 2018.

Win Naing, deputy director at the Department of Urban and Housing Development (DUHD), said in address on the second day of the event that housing needs would follow the population growth over the next two decades.

A PUSH to get more households to cook with liquefied petroleum gas (LPG) forms a key plank of a plan by the Myanmar government to ramp up the use of the fuel and devote more of the country’s electricity supply to targeted sectors.

SOME OF Myanmar’s leading companies have improved in corporate governance and transparency, due largely to their cooperation with international firms, a report has found.

THOUGH MYANMAR received only US$123 million (Bt3.84 billion) from Thai investments in the previous fiscal year ending on March 31, the nation’s investment body foresees a significant inflow of Thai businesses over the next few years.